Outlook Business Desk
The board has appointed Anand Piramal, son-in-law of Billionaire Mukesh Ambani, as chairman of Piramal Finance, the non-banking finance arm of the diversified Piramal Group, effective from September 16, 2025. He succeeds his father, Ajay Piramal.
The National Company Law Tribunal (NCLT) approved the merger of Piramal Enterprises into Piramal Finance on September 10. Following this, the board held its first meeting, where Anand Piramal’s appointment as chairman was finalised.
Piramal Finance, one of India’s largest affordable housing lenders, has served over 5 million customers across 26 states, mainly in semi-urban and rural areas, offering home, personal, business, used car, and construction loans.
According to the company, since joining in 2019, Anand Piramal has spearheaded Piramal Finance’s Retail Lending platform and guided its pivot from wholesale real estate lending to a diversified, technology-driven non-banking finance company.
Anand Piramal also led the ₹34,250 crore acquisition of Dewan Housing Finance Ltd (DHFL), the largest financial services resolution under the Insolvency and Bankruptcy Code, while reducing the legacy real estate loan book from ₹43,500 crore in 2022 to under ₹5,900 crore today.
While Anand Piramal now leads Piramal Finance, Ajay Piramal will continue heading the Piramal Group. The Group includes Piramal Pharma, Piramal Realty, and Piramal Foundation, with Dr. Swati Piramal as vice chairperson.
Born on October 25, 1985, Anand Piramal studied Economics at the University of Pennsylvania before earning an MBA from Harvard Business School. He earlier became the youngest president of the Indian Merchant Chambers Youth Wing.